Bearish Cardano currently $0.003 lower after trading as low as $0.38

Slightly weaker but mostly flat: Cardano is currently trading at $0.38 as it maintains an active range between $0.38 and $0.385.

Visual analysis of Cardano's chart shows that Cardano could begin to recover as it approaches significant support, now 1 cents away from $0.377. Dipping below could be an indication that further losses are ahead. Concerning technical analysis and more specifically, trend indicators, Cardano made an initial break below its 200 day Simple Moving Average at $0.383, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that ADA's lower Bollinger Band® is at $0.353, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, the technical outlook suggests Cardano is likely to remain muted for the immediate future, with no clear-cut direction.

In the meantime, negative performances are also seen in other markets, Tezos USD retreats 2.11% to trade around $1.32.

Positive performances can be seen by looking at other markets as FTX Token soars 9.54% to trade around $1.36. UNICORN Token USD is up 1.62%.

Having soared to a high of $1.21 approximately 10 months ago, ADA is now trading 68.49% lower. ADA is currently trading with a market cap of 13.15 billion with an average daily volume of 254 million.